Fed holds interest rates steady

Fed holds interest rates steady

WASHINGTON – The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year. Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted…

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Fed Chair Powell says central bank doesn't 'need to be in a hurry' to lower interest rates further

Fed Chair Powell says central bank doesn’t ‘need to be in a hurry’ to lower interest rates further

Federal Reserve Bank Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill on March 06, 2024 in Washington, DC.  Chip Somodevilla | Getty Images Federal Reserve Chair Jerome Powell on Tuesday reiterated the central bank’s commitment to bringing inflation down and signaled that policymakers aren’t…

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Fed cuts rate by a quarter point

Fed cuts rate by a quarter point

WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional reductions in coming years.  In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target…

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